On October 9, 2023, Leadrive announced the completion of its Series D financing, raising over 600 million RMB. The round was led by Legend Capital and Oriza FoFs, with participation from C Capital, Shang Capital, Huatai Baoli Investment, Donsun Investments, Royal Stars and Cai Xiaodong, the founder and president of Alpha Entertainment, among other top investment institutions.
Over the past month, Leadrive has successfully completed both the C+ strategic financing from Volvo Car Technology Fund AB and the Series D financing. With these achievements, they have garnered support and recognition from investors, including industrial capital, private equity investments, state-owned investment platforms, and insurance funds throughout this year.
The funds will primarily be used for supplementing operational cash flow during the business expansion phase, capacity expansion, and R&D of the next generation of power modules, power bricks, and silicon carbide technology.
Some investors believe that Leadrive has research and development capabilities in the field of automotive power semiconductors and motor controllers in China. Whether it is the traditional IGBT or SiC power modules, the company has a deep understanding and mastery of the core technologies, making their products highly scalable. Leadrive has accumulated long-term reserves and expertise in the SiC third-generation power semiconductor field. Their forward-looking layout is expected to transform into large-scale deliveries within the next 2 to 4 years.
Over the past six years, Leadrive has consistently focused on forward-looking development of core technologies and breakthroughs at the foundational level. They have developed and launched several power semiconductor modules and electric drive solution platforms with leading-edge technology, and put them into mass production. As of now, Leadrive has achieved designated production and mass production on more than 30 flagship models of domestic and international passenger vehicle manufacturers. They have also established deep cooperation with internationally leading OEMs and Tier 1 suppliers, ensuring high-quality and stable supply of electronic control systems and power module products in overseas markets.
C Capital has always been dedicated to investing in technological innovation and attaches great importance to innovation and development in the field of new energy vehicles. We believe that Leadrive, with its industry-leading design, testing and supply chain integration capabilities, can enhance the competitiveness of motor controller products through high-standard safety development and strong R&D capabilities. This will lay a solid foundation for expanding into broader international markets and achieving sustainable development in the future.
